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Possible Bullish Inside Day Candle Pattern Detected for Masimo Corp (NASDAQ:MASI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Masimo Corp (NASDAQ:MASI) based on the price action in the company's shares. Yesterday's price range of $143.76 and $145.55 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Masimo Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Masimo Corp share prices have moved between a 52-week high of $160.13 and a 52-week low of $81.56 and closed yesterday at 77% above that low price at $144.65 per share. The 200-day and 50-day moving averages have moved 0.47% higher and 0.54% lower over the past week, respectively.

Masimo Corp (NASDAQ:MASI) is currently priced 28.4% above its average consensus analyst price target of $103.50. The stock should hit resistance at its 50-day moving average (MA) of $150.45, as well as support at its 200-day MA of $137.81.

Masimo Corporation designs, develops, and licenses medical signal processing and sensor technology for the non-invasive monitoring of physiological parameters. The Company's products are designed to improve the effectiveness of pulse oximetry by overcoming the inability of current monitors to precisely measure the levels of arterial blood oxygen saturation and low arterial blood flow.

SmarTrend is tracking the current trend status for Masimo Corp and will alert subscribers who have MASI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle masimo corp

Ticker(s): MASI